What are the average home loan rates right now?
The Reserve Bank of Australia cut the official interest rate to 2.25 per cent in February 2015. The RBA may cut rates again in coming months.
Right now, the average standard variable rate on a $300,000 30-year home loan is about 5.08 per cent. That makes average monthly repayments about $1625.
The average three-year fixed home loan rate is about 4.64 per cent with repayments of about $1545.
Source: Herald Sun